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Ex-CEO at Banco do Brasil named VP amid organizational restructuring

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Ex-CEO at Banco do Brasil named VP amid organizational restructuring

Banco do Brasil SA said its former CEO, Marcelo Augusto Dutra Labuto, was named vice president of retail business, according to filings by the bank.

Labuto was appointed CEO in October 2018 to replace Paulo Rogerio Caffarelli, who moved to card processor Cielo SA. Labuto was then replaced by Rubem Novaes at the start of the administration of President Jair Bolsonaro in January. The former CEO also resigned from the board of directors.

Latin America's largest lender in assets also said its vice president of agribusiness, Tarcísio Hübner, resigned. He was replaced by Ivandré Montiel da Silva, a career officer at the bank.

Antônio Gustavo Matos do Vale, the bank's current vice president of technology, will become vice president of personnel management, procurement and operations.

Carlos Hamilton Vasconcelos Araújo, incumbent member of the risk and capital committee at the bank, will become vice president of financial management and investor relations.

Carlos Motta do Santos, currently the general manager of the business person, legal and agribusiness unit at the bank, will become the vice president for retail distribution.

The bank's risk management officer, Carlos Renato Bonetti, was appointed vice president of internal controls and risk management.

Furthermore, Fábio Augusto Cantizani Barbosa, a board member at the bank, was named vice president of technology.

Flávio Augusto Corrêa Basílio, currently a career officer at the bank, was named to the vice presidency for government. He was also Brazil's former Secretary of Public Security.

Márcio Hamilton Ferreira, vice president of internal controls and risk management was elected vice president of wholesale business.

The appointments are still subject to approval by the office of the President.